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Downtown Cleveland Downtown Cleveland’s $4 billion development boom continues to gain momentum. Top businesses are recommitting to Downtown and others are relocating. Housing remains strong leading to increased retail activity. 31 New restaurants & retail shops to date in More announced already for 2013/2014 Residential occupancy at 96.5%. Market has absorbed over 550 new residential units in the last 12 months. Nearly 1,000 additional units are in the pipeline – to be online within 18 months. Hotel occupancy over 75% in the 2 nd quarter of Six new hotels in development adding over 1,500 rooms.